Help! Attention Engine Specialists

[ChickDJC@xxxxxxx]

I need advice from the engine folks.  My 54 Custom Imperial (331 Hemi) is 
running just fine...but bad symptoms are just starting to occur (original 
miles 90k).  There is black, wet (as in water) soot coming from the exhaust 
pipes.  And, there is oil in the radiator.  My assumption: bad head gasket.  
Also, the car burns a bit too much oil for my taste.  

So, here is the question: What is the most and least I can do in my garage on 
my own (without pulling the engine, and without getting a machine shop 
involved or a costly mechanic)?

For example: Pulling the heads should not be a problem.  And therefore 
redoing the head gasket should not be a problem either, right?  Should I have 
any work done on the heads with them off?  

Okay, what about the engine burning too much oil?  Sounds like the rings, 
right?  What type of piston/ring work can be done on a car without pulling 
the engine?

What other advice do you have for me?  I am being too cheap...and should pull 
the engine and have the thing re-bored, honed, new pistons, rings etc.?  

You advice is most appreciated.

David
54 Imperial